Vail Resorts Reports Certain Ski Season Metrics for the Season-to-Date Period Ended April 14, 2013

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Apr 22, 2013, 09:00 ET

BROOMFIELD, Colo., April 22, 2013 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported certain ski season metrics for the comparative periods from the beginning of the ski season through April 14, 2013, and for the prior year period through April 15, 2012, adjusted as if Kirkwood, which was acquired in April 2012, was owned in both periods. The reported ski season metrics do not incorporate the recently acquired urban ski areas of Afton Alps and Mt. Brighton. The data mentioned in this release is interim period data and subject to fiscal quarter end review and adjustment.

Highlights

Season-to-date total lift ticket revenue at the Company's seven mountain resorts, including an allocated portion of season pass revenue for each applicable period, increased approximately 10.2% compared to the prior year season-to-date period.
Season-to-date ancillary spending continued to outpace our growth in skier visitation, with dining revenue up 13.1% and ski school revenue up 11.6% at the Company's seven mountain resorts, and retail/rental revenue up 8.9% compared to the prior year season-to-date period.
Season-to-date total skier visits for the Company's seven mountain resorts increased 5.5% compared to the prior year season-to-date period.

Commenting on the ski season to date, Rob Katz, Chief Executive Officer, said, "As the 2012-2013 ski season comes to a close, we are very pleased with the strong results this season. The growth in skier visitation continued to accelerate through Spring Break and the Easter holiday which contributed to our double-digit growth in lift ticket, dining and ski school revenues compared to the same period last year, offset by somewhat slower momentum at our Tahoe resorts and our retail business. The overall growth in our metrics reflects our exceptional guest service and the world-class amenities and activities of our resorts combining to create a unique winter vacation experience."

Discussing spring season pass sales results, Katz continued, "I am pleased to report that our spring season pass sales for the 2013-2014 ski season are off to a strong start, showing good momentum over last spring's record results for the program. This early momentum highlights the compelling value of our pass product offering and our guests' continued loyalty to the unsurpassed experiences at our resorts."

The table below highlights our season-to-date metrics compared to the prior year.

Season-to-Date Ski Season Metrics ⁽¹⁾
(% Change from Prior Year Period)

	Season-to-Date
	4/14/13 vs. 4/15/12
Dining Revenue	13.1%
Ski School Revenue	11.6%
Retail/Rental Revenue	8.9%
Total Lift Ticket Revenue	10.2%
Total Skier Visits	5.5%

(1) Adjusted as if Kirkwood was owned in both periods and excludes Afton Alps and Mt. Brighton from both periods.

About Vail Resorts, Inc. (NYSE: MTN)
Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada; Afton Alps in Minnesota and Mt. Brighton in Michigan; and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Forward-Looking Statements
Statements in this press release, other than statements of historical information, are forward looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to prolonged weakness in general economic conditions, including adverse affects on the overall travel and leisure related industries; unfavorable weather conditions or natural disasters; adverse events that occur during our peak operating periods combined with the seasonality of our business; competition in our mountain and lodging businesses; our ability to grow our resort and real estate operations; our ability to successfully initiate, complete, and sell, new real estate development projects and achieve the anticipated financial benefits from such projects; further adverse changes in real estate markets; continued volatility in credit markets; our ability to obtain financing on terms acceptable to us to finance our real estate development, capital expenditures and growth strategy; our reliance on government permits or approvals for our use of Federal land or to make operational and capital improvements; demand for planned summer activities and our ability to successfully obtain necessary approvals and construct the planned improvements; adverse consequences of current or future legal claims; our ability to hire and retain a sufficient seasonal workforce; willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases, and the cost and availability of travel options; negative publicity which diminishes the value of our brands; our ability to integrate and successfully realize anticipated benefits of acquisitions or future acquisitions; implications arising from new Financial Accounting Standards Board ("FASB")/governmental legislation, rulings or interpretations; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2012.
All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law.

SOURCE Vail Resorts, Inc.